THE ADMINISTRATION OF VAT IN NIGERIA

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The aim of this research study is primarily to provide and update the review of the relevance of administration of Value Added Tax (VAT) in Nigeria.

Concerted efforts have been made to present a comprehensive work on value added tax (VAT) and the effect of its administration in Nigeria economy.

The work is divided into three chapters one starts with a general introduction into the content of the study. It went further to state the background of study, objective of study, scope of the study and limitation of study and finally the definition of terms.

Chapter two: a number of related literature review, history of taxation, evolution of tax, VAT administration policy, the VAT Technical Committee and its function, VAT audit and investigation, VAT operation in banks and finance, merits, demerits and problems of VAT administration in Nigeria.

Chapter three sets the presentation of discussion of the findings made in the study, then recommendations and conclusion.

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY:

Value Added Tax (VAT) was introduced in Nigeria by the report of a study group set up by the federal government in 1991 during the regime of the military president, General Ibrahim Badamasi Babangida.

The study group came up with their report and recommendation to set up Value Added Tax (VAT).

The alteration of the basis of tax and the credit system brought to tax, led to the promulgation of the VAT Decree (VATD) No. 102 in 1993 through the Decree became effective from 1st December, 1993.

This idea, that is introduced in Nigeria must be managed, implemented and administered by somebody. From the topic, administration can be seen as the ways and manners by which an institution group, board, parastatals, government establishment are been run.

The day to day activities of an establishment will be channeled, run and administered for VAT to be effective, there must be an effective and efficient administration in the execution of VAT policies because of alternatives and uncertainties before them, the risk of making a wrong decision or choice in the administrative cadre will hinder the progress of VAT in the country.

This is why efforts have been made to select capable hands and brains to man the affairs of VAT as established by Value Added Tax Decree (VATD) of 1993.

The VAT are administered by Federal Board of Inland Revenue (FBIR) sub-section. It provides that the board (FBIR) may do such things as it may be seen necessary and expedient for the assessment and collection of tax and shall account for all amount to be collected in accordance with the provision of this Decree with reference to Section 3, paragraph 7, sub-section 1 (3,7(1) of the Value Added Tax Decree (VATD) No 102 of 1993.

This research work will look into the effectiveness and efficiency of administration of VAT, merits and the demerits.

THEORETICAL BACKGROUND:

The Value Added Tax (VAT) is a specially tax that charges establishments ten percent (10%) of their turnover in a year.

This institution was established in 1993 as promulgated by VAT Decree (VATD) No 102 during the General Ibrahim Badamosi Babangida regime.

The idea of introducing Value Added Tax (VAT) in Nigeria came as a report of the study group set up by the Federal Government in 1991. In January, 1993 government agreed to introduce VAT by the middle of the year, which was later shifted to September 1993.

The alternative of the basis of tax and the credit system brought to tax led to the promulgation of the VAT Decree (VATD) No. 102 of 1993 through the decree came effect from 1st December 1993, the full effect implication commenced from January 1st, 1994.

According to Encyclopaedia Americana of 27 (1981)s VAT was first institution in France in 1954 being the result of overheading of turnover tax introduced on called “taxes surla values ajoula (TVA).

The administration of VAT is established as contained in Section 3, paragraph 7, sub-section 1 of the VAT Decree No. 102 of 1993, the tax shall be administered, and managed by the Federal Board of Inland Revenue (FBIR) may do such things as it may be seen necessary and expedient for the assessment and collection of tax and shall account collected in accordance with the provision of this Decree.

The administration body of VAT comprise the VAT technical committee and they are charged with the following functions as contained also in Section 17 of the VAT Decree of 1993 state that there is hereby established committee to be known as the Value Added Tax (VAT) technical committee which shall comprise of a chairman of the Federal Board of Inland Revenue (FBIR), A director in Nigeria Customs (NCS), the three representative of the state government who shall be member of Joint Tax Board.

STATEMENT OF PROBLEM:

Value Added Tax (VAT) is a service industries like National Electric Power Authority (NEPA), Nigeria Port Plc, the complaints range failing by some few minister and government to embrace VAT fully, accept VAT invoice from